Insider Selling: Phreesia (NYSE:PHR) Director Sells 2,546 Shares

Key Points

• Director Lisa Egbuonu-Davis sold 2,546 Phreesia shares on June 25 at an average price of $9.53, totaling about $24,263. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Phreesia stock rose 9.1% to $9.96 in Friday trading, with volume above its average. The shares remain well below their 52-week high of $32.76.
• The company recently beat earnings expectations, reporting $0.05 EPS versus $0.02 expected and revenue of $130.94 million. Analyst sentiment is mixed, with a consensus Hold rating and ongoing legal overhang from securities-fraud lawsuits.

Phreesia, Inc. (NYSE:PHR - Get Free Report) Director Lisa Egbuonu-Davis sold 2,546 shares of Phreesia stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $9.53, for a total value of $24,263.38. Following the completion of the transaction, the director directly owned 38,316 shares in the company, valued at $365,151.48. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Phreesia Trading Up 9.1%

PHR stock traded up $0.83 during midday trading on Friday, hitting $9.96. The company had a trading volume of 2,996,859 shares, compared to its average volume of 1,777,366. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.41. Phreesia, Inc. has a 52 week low of $7.77 and a 52 week high of $32.76. The stock's 50 day moving average price is $9.33 and its 200 day moving average price is $12.01. The stock has a market cap of $615.96 million, a price-to-earnings ratio of 66.43 and a beta of 0.91.

Phreesia (NYSE:PHR - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The firm had revenue of $130.94 million for the quarter, compared to analysts' expectations of $130.08 million. During the same quarter last year, the business earned ($0.07) earnings per share. The business's revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that Phreesia, Inc. will post 0.35 earnings per share for the current fiscal year.

Phreesia News Summary

Here are the key news stories impacting Phreesia this week:

• Positive Sentiment: Phreesia shareholders backed the company’s leadership and governance at the annual meeting, suggesting continued investor support for management. Article Title
• Neutral Sentiment: Brokerage coverage remained mixed-to-stable, with Phreesia reportedly carrying a consensus “Hold” rating, which does not signal a major new catalyst. Article Title
• Negative Sentiment: Several law firms issued class-action and investigation notices regarding alleged securities law violations, increasing legal overhang and uncertainty for PHR shares. Article Title
• Negative Sentiment: Deadline reminders for the July 13 lead-plaintiff cutoff keep the securities-fraud case in focus, which can pressure the stock as investors digest litigation risk. Article Title

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PHR. Needham & Company LLC decreased their price objective on shares of Phreesia from $35.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, March 31st. Robert W. Baird reissued a "neutral" rating and issued a $10.00 target price (down from $25.00) on shares of Phreesia in a research note on Tuesday, March 31st. Mizuho cut their target price on Phreesia from $22.00 to $19.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 24th. Wells Fargo & Company restated an "equal weight" rating and set a $9.00 price target (down from $15.00) on shares of Phreesia in a report on Wednesday, May 20th. Finally, Wall Street Zen raised Phreesia from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.65.

Institutional Investors Weigh In On Phreesia

Several institutional investors and hedge funds have recently modified their holdings of PHR. Pale Fire Capital SE purchased a new position in shares of Phreesia during the first quarter valued at about $72,481,000. Granahan Investment Management LLC lifted its holdings in Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company's stock worth $40,601,000 after buying an additional 1,018,987 shares during the period. Prosight Management LP purchased a new stake in Phreesia in the fourth quarter worth about $16,533,000. Millennium Management LLC boosted its position in Phreesia by 730.7% during the 3rd quarter. Millennium Management LLC now owns 1,064,132 shares of the company's stock valued at $25,028,000 after acquiring an additional 936,033 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Phreesia during the 4th quarter valued at approximately $15,213,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Company Profile

Phreesia, Inc NYSE: PHR is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company's cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.

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